Wednesday, July 11, 2007
National Tyres pumps-up for sell-out
TYRE AND Fast Fit group, National Tyres, could be putting-up the 'For Sale' sign.
The firm, with 200 branches, has hired Price Waterhouse Coopers to advise on a strategic review.
A price of between £75m-£100m is rumoured as being a guide price.
Chairman and chief executive Alan Revie teamed up with John Cauldwell, John Kemp and John Taylor in 2002 to buy the loss-making chain from the German tyre-maker, Continental for £24m.
Nationwide Autos and its partner, Phoenix Equity Partners, Micheldever Tyres, which is backed by buyout fund Graphite Capital, and Scottish-based rival Kwik-Fit, owned by CVC, are all thought to be interested.
DATED: 11.07.07
FEED: AW
The firm, with 200 branches, has hired Price Waterhouse Coopers to advise on a strategic review.
A price of between £75m-£100m is rumoured as being a guide price.
Chairman and chief executive Alan Revie teamed up with John Cauldwell, John Kemp and John Taylor in 2002 to buy the loss-making chain from the German tyre-maker, Continental for £24m.
Nationwide Autos and its partner, Phoenix Equity Partners, Micheldever Tyres, which is backed by buyout fund Graphite Capital, and Scottish-based rival Kwik-Fit, owned by CVC, are all thought to be interested.
DATED: 11.07.07
FEED: AW
